I think the key point re managing VC's is that they avoided being forced into an early exit and retained control over the product by keeping control of the comp

I think the key point re managing VC's is that they avoided being forced into an early exit and retained control over the product by keeping control of the company. Most mature investors want two things: The value of their stock to increase and liquidity opportunities (opportunities to realize that value). They want both to happen rather sooner than later due to the time value of money. They also believe that if they have more control they can achieve these first two objectives more effectively. These investor goals are not always aligned with what's in the best interests of the product or company which is why it is sometimes a good thing for founders to retain control.